According to an article on Leftlane News it looks like gas prices will be over $4 a gallon in the U.S. this summer.
Alaron Trading analyst, Phil Flynn said "Things are looking pretty bad for the upcoming summer driving season." It has been reported that the current stockpiles of gasoline fell by 5 million barrels in the past week, which is more than analysts predicted. Normally stockpiles remain steady during this time of the year in preparation for the high demand during the summer season. If we are already having gasoline stock issues in the spring it is only going to get worse by the summer.
According to Flynn, he predicts that the U.S. as a whole will see $4 prices at the pump, but in certain areas of the country the prices will probably be even higher. In CA some gas stations are already charging close to $4 for premium unleaded.
Prices in the U.S. are still much lower than they are in Europe.
Full Story: Leftlane News
Comments (4)
thats' crazy
Posted by VAP | April 16, 2007 8:18 PM
Posted on April 16, 2007 20:18
It won't make any difference to most people until it reaches $10-$15 a gallon...
Posted by Mo | April 26, 2007 10:03 AM
Posted on April 26, 2007 10:03
Its still more expensive in Canada too, and we are a net exporter or oil.
Posted by gm0n3y | May 1, 2007 7:01 PM
Posted on May 1, 2007 19:01
the whole gas price thing lately hasn't been a result of our country's oil reserves, its been a result of static production capability of refineries in the U.S. there hasn't been a new gasoline refinery built in over 20 years in the U.S.which has created a bottleneck on the refinement side, not on the oil supply. not to mention ever increasing restrictions from the EPA to refine gasoline even cleaner which makes it harder and harder for existing facilities to meet standards and makes the prospect of building new refineries that much more expensive. double edged sword really, we want it clean and we want it cheap... somethings gotta give.
Posted by bob studabaker | May 17, 2007 4:53 AM
Posted on May 17, 2007 04:53